The Korean-German Chamber of Commerce and Industry (KGCCI, President & CEO Marie Antonia von Schönburg), in cooperation with Busan Jinhae Free Economic Zone Authority (BJFEZ), held the KGCCI Economic Outlook 2026 on January 15 at Signiel Busan. The event brought together around 50 business leaders, governmental officials, and industry experts to examine the future of Korean-German economic collaboration amid global uncertainty and geopolitical complexity.
The event featured distinguished guests and speakers, including H.E. Georg Schmidt, German Ambassador to South Korea; Seong-Ho Park, Commissioner of Busan Jinhae Free Economic Zone Authority (BJFEZ); Dr. Charlie Lay, Senior Economist at Commerzbank AG, Singapore Branch; and Katharina Viklenko, Director and Correspondent Korea of Germany Trade & Invest (GTAI). Together, they provided in-depth insights into macroeconomic trends, bilateral economic relations, and strategic considerations for navigating an increasingly volatile global environment.
In her opening remarks, Marie Antonia von Schönburg, President & CEO of KGCCI, emphasized the resilience and depth of bilateral economic ties, stating, “In a period of global economic uncertainty, the strength of the Korean-German partnership really stands out. Our relationship goes beyond trade. It is built on shared priorities like innovation, sustainability, and thinking long-term. At KGCCI, we see our role as a practical bridge between businesses, policymakers, and ideas in both countries, and we will keep focusing on making those connections work in a meaningful way.”
Ambassador Schmidt highlighted the importance of close cooperation between Germany and Korea in addressing global challenges, noting: “To master the huge challenges in front of us, closer cooperation between like-minded partners, including between Germany and Korea, is indispensable. I am confident that the Asia-Pacific Conference (APK), the flagship event of the German Business Community in Asia-Pacific, which will be held in Seoul in October, will make a significant contribution to even closer relations between our countries.”
Delivering the keynote presentation titled “Global Economic Outlook,” Dr. Charlie Lay, Senior Economist at Commerzbank AG, provided a macroeconomic assessment of Korea and the global economy. He stated: “The South Korean economy should perform better this year and expand by around 2% after the sluggish performance in 2025. The global economic outlook is relatively benign, with stronger growth seen in the US and Germany this year. The key risks lie on the geopolitical front and the continued unravelling of the old global world order.”
Meanwhile, Katharina Viklenko, Director and Correspondent Korea at GTAI, provided an overview of Korea’s economic outlook and its major industries, underscoring both near-term challenges and long-term opportunities for German companies operating in Korea. She highlighted the importance of strategic resilience, innovation, and sector-specific adaptation in a changing global market. She noted, “Increased government spending and strong demand for semiconductors and ICT equipment driven by the global AI boom are expected to support Korea's growth in 2026. Nevertheless, a weak Korean Won, heavy dependence on the IT sector's performance, and the risk of renewed global trade tensions pose ongoing challenges.”
The event concluded with a special reception with around 120 guests, including Ambassador Schmidt and representatives from major German companies. During the reception, KGCCI, its member companies, and the German Club donated KRW 6 million to Soyang Rainbow Hills (formerly Soyang Orphanage), an organization dedicated to supporting underprivileged children. The donation will be used to renovate its facilities for children. The reception was highlighted by a performance from the Soyang Chamber Orchestra, comprising talented teens from Soyang Rainbow Hills.
Reaffirming KGCCI’s commitment to social responsibility, von Schönburg concluded: “At KGCCI, we see businesses as key drivers of growth and as contributors to society. With that role comes responsibility, and for us, social impact is an integral part of what sustainable success really means.”
